Tiger cub Laffont in $50m round for AI start-up

AppZen's involvement with Coatue may signal hopes for a stock flotation

By

Ryan Weeks

September 9, 2019 12:01 pm GMT

Artificial intelligence start-up AppZen has confirmed “Tiger Cub” Philippe Laffont’s hedge fund Coatue as a large new backer, as it announced a $50m third-round fundraising and considers a public listing.

Coatue Management is a technology-focused hedge fund Laffont founded in 1999, before which he served a three-year stint as an analyst at Tiger Global Management, Julian Robertson’s investment firm. He is one of the so-called tiger cubs — former colleagues of Robertson’s who went on to launch hedge funds of their own.